Claims Handling Process Verified Exam Questions and Answers Latest update 2026/2027

Claims Handling Process Verified Exam Questions and Answers Latest
update 2026/2027

Question:
Step 1 in the Claims Handling Process

Answer:
Acknowledge and assign the claim

Question:
Step 2 in the Claims Handling Process

Answer:
Identify the policy and set reserves

Question:
Step 3 in the Claims Handling Process

Answer:
Contact the insured or the insured's representative

Question:
Step 4 in the Claims Handling Process

Answer:
Investigate the claim

Question:
Step 5 in the Claims Handling Process

Answer:
Document the claim

Question:
Step 6 in the Claims Handling Process

Answer:
Determine the cause of loss, liability and the loss amount

Question:
Step 7 in the Claims Handling Process

Answer:
Conclude the claim

, Question:
Step 1 Substep

Answer:
Provide name and contact information of assigned claim representative and claim number. Note:
Different companies have different procedures. This activity may be completed under a later step in
some companies.

Question:
Step 1 Substep

Answer:
Assign claim based on territory,type of claim, workload, or other criteria

Question:
Step 1 Substep

Answer:
Assign claim based on territory, license status of staff, type of claim, workload, or other criteria

Question:
Step 1 Substep

Answer:
Contact the claimant if a third-party claim

Question:
Step 2 Substep

Answer:
Thoroughly read the applicable policy

Question:
Step 2 Substep

Answer:
Issue nonwaiver agreement or a reservation of rights letter

Question:
Step 2 Substep

Answer:
Set claim reserves (case or other wise)